Indorama Ventures Public Company Limited (IVL) has entered into an agreement to acquire DuraFiber Technologies México operations, S. A. DE C. V. (DFT), a leading Mexican producer of durable technical textiles for industrial, tyre reinforcement, and specialty applications globally. This will further strengthen IVL’s position in automotive fibre market.
DFT’s Queretaro plant in Mexico (co-sited with IVL Mexico) has a capacity to produce a total of 37,500 tonne/annum of PET high modulus low shrinkage (PET HMLS), PET heavy denier industrial (PET HDI) and nylon 6 fully-integrated into tyre cord fabrics and industrial and industrial textiles.
DuraFiber is the sole domestic tire cord fabric producer in Mexico with products approved by major global tire companies. Its products are used in a wide range of applications including reinforcement for conveyor belts, hoses, single-ply roofing, tents, automotive airbags, seat belts, safety harnesses and ropes. The market is projected to have a growth rate around 6 per cent CAGR in 2017-2021.